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Islamic derivative master agreement completed
23 April 2010
Islamic finance specialists gave a cautious welcome to the new ISDA/IIFM Tahawwut (Hedging) Master Agreement for Islamic derivatives, announced on March 1 by the two bodies that prepared it: the International Swaps and Derivatives Association and the International Islamic Financial Market.
Read more:
[Islamic finance]
[Shariah]
[ISDA]
[IIFM]
[Tahawwut (Hedging) Master Agreement]
[Islamic derivatives]
The
long-awaited agreement is a standardised form for Islamic derivatives
transactions, which could free market participants from having to draw up the
extensive documentation required for Sharia-compliant transactions from
scratch.
Farrukh Raza,
founder and managing director of Islamic Finance Advisory and Assurance
Services in Birmingham in the UK, said it would take time before...
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